What is a wholesale property?

Definition

Wholesaling real estate is when a real estate investor does the work of finding and entering into a contract with a distressed/motivated seller, then assigns the contract to an "end buyer" at a higher price.
The investor tends to find these opportunities through advertisements, contractors, and networking.
If they can get the property before it is foreclosed on they can guarantee it is in their hands and the home owner gets to leave with money in their pocket - it is a much better situation than an auction bidding war and the home owner leaving with nothing.